Commerce Exam Past Questions and Answers | JAMB, WAEC and NECO

Commerce is a structured system for exchanging goods between buyers and sellers. It involves studying the processes and activities related to buying and selling goods and services, particularly on a large scale.

• Question 311: A current account holder pays fees for services in form of Options:
  A) bank charges
  B) interest rates
  C) commission on turnover
  D) minimum lending rate
  Show Answer
  The correct answer is A .
• Question 312: The document issued by the seller which gives detail of the goods he sells is known as? Options:
  A) catalogue
  B) tender
  C) price list
  D) invoice
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  The correct answer is D .
• Question 313: Which Commerce Question Paper is given to you? Options:
  A) Type A
  B) Type B
  C) Type C
  D) Type D
  Show Answer
  The correct answer is B .
• Question 314: A bill of exchange already accepted can be discounted by the holder in? Options:
  A) the central bank
  B) at least two banks
  C) his bank
  D) any bank
  Show Answer
  The correct answer is D .
• Question 315: An example of service rendered by NIPOST is? Options:
  A) electronic mail
  B) couier
  C) telephone
  D) mail delivery
  Show Answer
  The correct answer is D .
• Question 316: Land as a factor of production does not vary in? Options:
  A) quantity
  B) nature
  C) quality
  D) cost
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  The correct answer is A .
• Question 317: The type of securities that the stock exchange deals with are Options:
  A) warrants, currency notes, money orders and postal orders
  B) cheques, bankdrafts , warrants and promissory notes
  C) bonds ivory, treasure bills, debentures and warrants
  D) stocks, shares, bonds and warrants.
  Show Answer
  The correct answer is D .
• Question 318: The current trend in retailing competition in Nigeria are? Options:
  A) advertising and sales promotion strategies
  B) branding, enterprising and diffrentiation of goods and services
  C) self-service, after-sales service and services and branding strategies
  D) after-sales services and sales promotion strategies
  Show Answer
  The correct answer is A .
• Question 319: The major parties to an agency relationship are the? Options:
  A) principal and the creditor
  B) bailee and the bailor
  C) principal and the agent
  D) shareholder and the creditor
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  The correct answer is C .
• Question 320: The excess of the assets over the liabilities of a business is called? Options:
  A) working capital
  B) net worth
  C) capital employed
  D) initial capital
  Show Answer
  The correct answer is B .